Featured

(BBC) OPEC producers and allies have agreed a record oil deal that will slash global output by about 10% after a slump in demand caused by coronavirus lockdowns. The deal, agreed on Sunday via video conference, is the largest cut...

In November 2019, the International Monetary Fund gave Guyana the nod as the world’s fastest growing economy on the strength of ExxonMobil’s mega oil discoveries. The country became an oil producer just over three months ago when the price...

Extensive measures remain in place and precautions are being taken to ensure the health and safety of personnel working onboard the 120,000 barrels per day Liza Destiny FPSO producing oil offshore the South American country of Guyana. SBM Offshore, the...

Noble Corporation says as a result of the oil price war and the global COVID-19 outbreak, its oil drilling contracts have been shortened, drill ships placed on standby and day rates slashed. The US drilling corporation has updated its drill...

Crude oil is a major component of modern lifestyle. It has played an important role in many world events for over a hundred years. Wars have been fought over crude oil, and energy security is one of the major...

(Reuters) - Norway, Western Europe’s largest oil producer, said on Saturday the country was still considering cutting oil production if the OPEC+ group implemented its plan. “How any potential output cut will be carried out by Norway, and the size...

(CNBC) A record oil production cut hangs in the balance after energy ministers from the Group of 20 major economies on Friday agreed that stabilization in the market is needed but stopped short of discussing specific production numbers. “To underpin global...

As disruptions in the global oil and gas industry intensify as a result of oil price shocks and the COVID-19 pandemic, companies have been forced to slow down or stop operations altogether. While the co-venturers at Guyana’s Stabroek Block...

The Covid-19 epidemic and the ongoing oil price war have ravaged global energy markets during the last two months, and offshore drilling in particular is among the most affected industry segments. A Rystad Energy impact analysis estimates that drillers...

(Reuters) - China National Offshore Oil Corp (CNOOC) will trim annual investment by 10% to 15% in 2020, while maintaining its goal of increasing domestic crude oil and natural gas production for the year, the company said in a...